New home sales take off; market remains grounded overall
September’s lower mortgage rates may have given a boost to the new construction sector, but buyer enthusiasm could be waning as rates climb back up.
October 24, 2024
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- A disappointing September pushes home sales to 14-year lowLower mortgage rates and rising inventory failed to entice buyers, particularly first-timers, as prices continued their year-over-year climb.October 23, 2024
- CoStar continues to grow, but not without some painRevenue was up 11%, and the company plans to accelerate the growth of the Homes.com sales team despite some slowdown in traffic from the previous quarter.October 22, 2024
- Top portals forge new partnership with enhanced listingsZillow will share 3D Home tours, interactive floor plans and other listing features with Realtor.com beginning in 2025, part of a larger focus on collaboration.October 22, 2024
- Will builders start lowering agent commissions?Most haven't, data shows, as they wait for the post-settlement dust to settle. Instead, they’re leaning into agent relationships and rethinking incentives.October 22, 2024
- NAR, 4 brokerages ask court to toss out Homie suitThe defendants cite a lack of jurisdiction in the case, which alleges that NAR “controls competition” and accuses brokers of steering buyers away from listings.October 21, 2024
- NAR hit with another lawsuit over ‘forced membership’A case filed in Pennsylvania challenges membership rules and accuses associations of discriminatory treatment of minority real estate professionals.October 21, 2024
- For one pandemic boom town, balance is returningBuyers flooded the Austin market a few years ago, sending home prices sky-high. Now, the market has come back to earth, but affordability is still an issue.October 18, 2024
- Rising rates a bummer for buyers, but builders are more bullishMortgage rates moved up again, but for the market as a whole, “the worst may be behind us.” Plus, improving builder optimism could mean more future supply.October 17, 2024
- Buy a house before this election? First-timers vote noNearly a quarter of first-time buyers may wait even longer, to see if down payment help or other candidate promises materialize in 2025, a Redfin survey found.October 15, 2024
- Up for negotiation: Commission feesMore than half of recent sellers say they negotiated with their agent to lower the commission, according to new survey data from Zillow.October 14, 2024
- Courts this week: Motions filed in Gibson, Homie; eXp updateDefendants seek dismissals in the Missouri case; leading Utah MLS dropped from lawsuit involving flat-fee brokerage; eXp files settlement.October 11, 2024
- Higher rates, lower inflation: Mixed news creates uncertaintyBuyers are left wondering if they should wait for rates to fall again, as some economists expect, or act now “and worry about rates secondly.”October 10, 2024
- NAR appeals to Supreme Court in DOJ battleThe trade organization filed an official request with the high court today, asking for a review of an antitrust case that was ostensibly closed in 2021.October 10, 2024
- How buyers have (and haven’t) changed in recent yearsZillow’s latest trends report finds that, despite turbulence in the market, consumer traits and preferences are fairly stable — with some key exceptions.October 9, 2024
- Howard Hanna dismissed from Pennsylvania commissions caseWest Penn MLS was also dismissed, with the judge ruling there was no evidence of a conspiracy between the parties to fix rates.October 8, 2024
- Homebuyer sentiment is up, but for how long?Consumers were considerably more upbeat about the housing market in September, but rising mortgage rates may put a damper on their enthusiasm.October 7, 2024
- Mortgage rates jump following strong jobs reportWhile higher levels of employment is good news for real estate in the long term, rising rates may put a damper on home sales this fall.October 4, 2024
- More objections pour in over settlements involving Compass, RedfinA total of nine brokerages have settled in the Gibson/Umpa case, but objectors balk at damage amounts and cite concerns over the impact on homebuyer claims.October 3, 2024
- Buyers are getting ‘a leg up’ for the first time in yearsMortgage rates remain relatively low, and buyer activity, including home tours and mortgage purchase applications, are up.October 3, 2024
